The week on Risk.net, November 4–8, 2019
FICC remained largest single counterparty for US Treasury repo
Clearing house’s sponsored programme claimed $449.7 billion of US Treasury-backed trades
The clearing house posted 157 margin breaches for the 12-month period ending in March
Open positions in government securities held by ten largest clearing members falls to 37%
Market expects exchange to unite bond, repo, futures and swaps clearing – eroding grip of banks and DTCC
Proposal faced opposition from smaller broker-dealer members of US Treasuries CCP
Regulator says it needs more time to consider market impact of CCLF proposal
Concern over structural deficiencies as SOFR chosen to replace key benchmark
Money funds cleared over $10 billion of US Treasury repo trades at FICC in June and July
HFT default could destabilise interdealer markets, participants fear
Gaps in central clearing are stifling the emergence of all-to-all trading venues for US Treasuries
Senior executive says move would help foster all-to-all trading in cash Treasuries
US Treasuries CCP concerned about contagion risk threat to existing members
New technology set to boost repo netting, shrinking $50bn facility "substantially"
Repo CCP's committed liquidity facility could force price hike
Link-up will allow institutional fixed-income investors to apply ESG investment strategies to their bond portfolios
James Land leaves Westpac to boost Nomura’s fixed income team.
The New York-based Depository Trust and Clearing Corporation (DTCC) has introduced real-time trade-matching (RTTM) services for corporate and municipal bonds and unit investment trusts (UITs), a move it called a significant step in the industry’s…
Perturbed by last year's spike in settlement failures on the May 2013 Treasury note, investors have been assessing the likelihood of a repeat scenario. So what causes these fails situations, and how can they be avoided?